QUESTION 23 3 points Save Ans In December 2020, Sharp Corporation placed in service computer equipment (5-year property) with an initial basis of $25,000. This is the only tangible personal property placed in service in 2020. In November of 2021, Sharp sold the equipment for $22.500. Calculate the MACRS depreciation expense on the equipment in 2021 (gnoring Section 179 and bonus depreciation). Note that you only need to compute the depreciation for 2021 (not 2020) TABLE 2d MACRS Mid-Quarter Convention: For property placed in service during the fourth quarter Depreciation Rate for Recovery Period Year 5-Year 7-Year 1 5.00% 3.57% 2 38.00 27.55 22.80 19.68 13.68 14.06 10.94 10.04